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Singapore Post Limited (S08.SI)

SES - SES Delayed Price. Currency in SGD

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0.7100-0.0050 (-0.70%)

At close: 5:04PM SGT

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Associated Press
China's virus crisis hits global flows of letters, parcels
Postal operators in the United States, China and elsewhere say the suspension of flights to slow the spread of a deadly new virus is having a major impact on global flows of letters and parcels. In a note seen by The Associated Press, the U.S. Postal Service informed its counterparts around the world on Tuesday that it is “experiencing significant difficulties” in dispatching letters, parcels and express mail to China, including Hong Kong and Macau, “because most of its supplier airlines have suspended their flights" to those destinations. It said in the note that ”until sufficient transport capacity becomes available,”it would no longer accept mail from other countries that transits via USPS to China, Hong Kong and Macau.
Reuters SG
SingPost's U.S. e-commerce units seek bankruptcy protection
Singapore Post Ltd said its two struggling U.S. e-commerce units, Jagged Peak and TradeGlobal, have filed voluntary petitions for Chapter 11 bankruptcy protection as a six-month process to find buyers for the businesses failed. "Under the supervision of the bankruptcy court, the U.S. subsidiaries intend to pursue the sale of all or substantially all of their assets," SingPost said late on Wednesday. The underperformance of the two firms has hit profits at SingPost, which counts Singapore Telecommunications and Alibaba Group Holdings as its biggest shareholders.